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Vedanta’s ‘gold mine’ in Zambia may soon be on Wall Street. Here's what is planned

Business Today

Business Today · 3m ago

Vedanta’s ‘gold mine’ in Zambia may soon be on Wall Street. Here's what is planned

Vedanta Resources is considering listing its Zambian asset, Konkola Copper Mines (KCM), on US stock exchanges. This move is part of the company's broader strategy to raise capital. The listing could allow Vedanta to tap into US financial markets and attract significant investment. The exploration of a US listing reflects Vedanta's strategic efforts to optimize asset value and bolster financial resources, enhancing its position in the global mining sector.

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Vedanta’s demerger plans may face hurdles from shareholders: Credit Sights report

Livemint

Livemint · 1y ago

Vedanta’s demerger plans may face hurdles from shareholders: Credit Sights report

Credit Sights, a Fitch Solutions Company, has warned that Vedanta Ltd's planned demerger of its businesses may face obstacles from minority shareholders and creditors. The demerger announcement was made in September 2023, but there have been few updates on its progress since then. Credit Sights believes the demerger could complicate Vedanta Resources Ltd's corporate structure and may not significantly address its debt obligations. It also highlighted potential challenges for Hindustan Zinc Ltd in obtaining the required shareholders' approval for the proposed demerger.

Reddit launches free tools to help businesses grow their presence on the site ahead of IPO

TechCrunch · 1y ago

Reddit launches free tools to help businesses grow their presence on the site ahead of IPO

Reddit has just launched Reddit Pro, a suite of free tools aimed at helping businesses grow their presence on the platform. The suite includes AI-powered insights about trending topics and brand mentions, publishing tools for drafting and scheduling posts, and performance analytics to track engagement. Additionally, businesses can easily convert their posts into paid advertisements on Reddit without leaving the platform. Reddit Pro, currently in beta testing, has already attracted over 200 businesses, including Taco Bell, Wendy's, the NFL, and The Wall Street Journal. More features are planned to be added throughout the year.

UnitedHealth hack clouds outlook for insurers' medical costs

Reuters · 1y ago

UnitedHealth hack clouds outlook for insurers' medical costs

The cyberattack on UnitedHealth Group's tech unit is causing delays in processing insurance claims, leading to uncertainty regarding when high medical costs for health insurers will subside. While the company expects most of its pharmacy services to come back online soon, the restoration of the medical claims network will take longer. Wall Street analysts have not provided an estimate of the financial impact, but the hack is expected to affect cash flow and increase uncertainty around medical utilization estimates. The disruption may delay the return to normal levels of medical services spending and potentially impact new patient healthcare appointments.

Palo Alto Networks in talks to buy CyberArk in deal worth over $20 billion: Report - The Economic Times

Economic Times

Economic Times · 1m ago

Palo Alto Networks in talks to buy CyberArk in deal worth over $20 billion: Report - The Economic Times

Palo Alto Networks is reportedly in talks to acquire Israeli cybersecurity firm CyberArk Software in a deal potentially valuing over $20 billion. This news, reported by the Wall Street Journal, resulted in CyberArk shares rising by approximately 13% and a slight dip in Palo Alto Networks' stock. The deal highlights ongoing activity in the cybersecurity sector, with significant investments and acquisitions reshaping the industry landscape. Finalization could occur soon, although neither company commented on the report.

Is this right time to invest in gold? Here's what fund managers have to say

Money Control

Money Control · 1y ago

Is this right time to invest in gold? Here's what fund managers have to say

Gold exchange-traded funds (ETFs) in India experienced outflows totaling INR 395.69 crore in April, marking the first monthly outflow in a year. Despite this, fund managers believe that gold will continue to be a relevant and safe hedge for investors during periods of market volatility. Gold ETFs have historically grown during challenging times and the asset under management of these funds increased by about 150% in 2020. Additionally, the popularity of gold as an investment strategy is attributed to its exceptional performance, with the compound annual growth rate exceeding 50% in the domestic market.

Parag Agrawal was not 'fire-breathing dragon' that X required: Elon Musk

Livemint

Livemint · 1y ago

Parag Agrawal was not 'fire-breathing dragon' that X required: Elon Musk

With over a year later, after Elon Musk took over the social media platform X(formerly Twitter), Walter Isaacson who wrote the biography "ELon Musk" and will be published on 12 September has given a detailed account on why Elon Musk sacked Parag Agrawal, the then Twitter CEO.In an excerpt carried out by The Wall Street Journal , Musk who had a meeting with Parag Agrawal said he was a "really nice guy." "What Twitter needs is a fire-breathing dragon," Elon Musk said after that meeting, as per biographer Isaacson. "And Parag is not that." Elon Musk met Parag Agrawalover a dinner in March 2022, according to the biographer.

Truecaller gets AI backed spam-blocking feature. here's how it works

Livemint

Livemint · 1y ago

Truecaller gets AI backed spam-blocking feature. here's how it works

Truecaller has introduced an AI-powered feature called 'Max' that blocks spam calls. The feature, available exclusively for Truecaller Premium users on Android, can identify and block calls that are not from approved contacts or are flagged as spam by the AI algorithm. The technology is expected to improve over time as more spam call data is collected. Truecaller's Vice President of Search, Kunal Dua, mentioned that there may be instances where legitimate businesses might get temporarily blocked. The Truecaller Premium subscription in India starts at ₹179 per month and goes up to ₹5,000 for the Gold tier.

Coal India Shares Heat Up on IPO Buzz for Two Arms

OutlookIndia

OutlookIndia · 3m ago

Coal India Shares Heat Up on IPO Buzz for Two Arms

Coal India shares surged by up to 4% following reports about the company's plans to list two subsidiaries, Bharat Coking Coal and Central Mine Planning & Design Institute. The listing process has begun, with a draft red herring prospectus soon to be filed. Despite the stock's recent gains, it had lost over 11% in the past year. Coal India accounts for over 80% of domestic coal production, with plans to expand critical mineral projects overseas.

Elon Musk may take a page from Ferrari's playbook with Tesla's Cybertruck

Business Insider

Business Insider · 1y ago

Elon Musk may take a page from Ferrari's playbook with Tesla's Cybertruck

The Cybertruck, Tesla's polarizing vehicle launch, may see limited supply initially, following a strategy similar to Ferrari, to create scarcity value and keep prices high. Analysts predict Tesla will sell around 48,500 Cybertrucks in 2024, with estimates ranging from 78,000 to 230,000 in 2025. Despite more than a million reservations, actual deliveries are expected to be much lower, potentially leading to high demand and limited supply. Wall Street wonders if Tesla will use the same playbook as Ferrari, limiting production to maintain scarcity. Apple's history with iPhone launches is cited as another example of managing uncertainty through limited supply.

Wall St climbs after selloff; Nvidia outstrips Alphabet in market value

Reuters · 1y ago

Wall St climbs after selloff; Nvidia outstrips Alphabet in market value

Wall Street rebounds after a sell-off in the previous session, with Nvidia surpassing Alphabet in market value. Core consumer prices in January remained nearly double the Fed's 2% target, leading investors to reassess rate cut expectations. Chicago Fed President Austan Goolsbee's comments provide relief regarding the path to a 2% inflation target. Expectations for rate cuts in May have decreased, while June expectations remain high. The S&P 500 and Nasdaq achieved new highs.

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